Curbstone Financial Management Corp Takes Position in The PNC Financial Services Group, Inc $PNC

Curbstone Financial Management Corp purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,228 shares of the financial services provider’s stock, valued at approximately $415,000.

A number of other institutional investors have also modified their holdings of PNC. Chevy Chase Trust Holdings LLC raised its position in shares of The PNC Financial Services Group by 0.3% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 214,238 shares of the financial services provider’s stock valued at $39,938,000 after purchasing an additional 635 shares during the last quarter. Private Trust Co. NA raised its position in shares of The PNC Financial Services Group by 1.5% in the 2nd quarter. Private Trust Co. NA now owns 10,715 shares of the financial services provider’s stock valued at $1,997,000 after purchasing an additional 163 shares during the last quarter. Applied Finance Capital Management LLC raised its position in shares of The PNC Financial Services Group by 131.1% in the 2nd quarter. Applied Finance Capital Management LLC now owns 10,920 shares of the financial services provider’s stock valued at $2,036,000 after purchasing an additional 6,195 shares during the last quarter. Master S Wealth Management Inc. raised its position in shares of The PNC Financial Services Group by 28.8% in the 2nd quarter. Master S Wealth Management Inc. now owns 2,667 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 597 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of The PNC Financial Services Group by 6.8% in the 2nd quarter. Nordea Investment Management AB now owns 34,877 shares of the financial services provider’s stock valued at $6,524,000 after purchasing an additional 2,210 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PNC has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Citigroup increased their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Stock Performance

PNC opened at $179.30 on Friday. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $70.61 billion, a PE ratio of 11.58, a P/E/G ratio of 1.24 and a beta of 1.10. The firm has a 50 day moving average of $198.10 and a two-hundred day moving average of $183.85.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The company had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The PNC Financial Services Group’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $3.49 EPS. On average, analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.